As one of the largest and fastest growing economies, UAE seems as the ideal place to set up your business. Lying in close proximity to the continents of Europe, Africa and Asia, UAE has emerged as a prime business destination for people across the world. There are two ways you can set up a company in the UAE- first, in conjunction with a local partner having 51 per cent share in the company, known as an LLC (Limited Liability Company), and second in one of the many free zones where you can own 100 per cent of the company.